Indonesia Gold Mine Investors Can Appeal Takeover, Purbaya Says

Investors could appeal Indonesia’s decision to take over a lucrative private gold mine in Sumatra after its permit was revoked due to alleged links to deadly floods last year, according to the country’s finance minister.

“It’s not the end of the game,” Finance Minister Purbaya Yudhi Sadewa said in an interview with Bloomberg TV’s Haslinda Amin on Tuesday, referring to the Martabe gold mine operated by PT Agincourt Resources. The company is controlled by PT Astra International and ultimately by multinational Jardine Matheson Holdings Ltd.